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The undergrounding of utilities will take place in one phase, to start as soon as financial <br />resources become available through development cost-share funding. <br />6. Specific Plan Preparation Fee <br />Each subdivider of property within the Plan Area shall be subject to payment of the <br />Vineyard Avenue Corridor Specific Plan preparation fee. The purpose of this fee is to <br />help defray the cost to the City of preparing the Specific Plan, Environmental Impact <br />Report, and supporting economic analysis reports. <br />Individual fee payments are based upon the relative benefit derived from the Specific <br />Plan for residential , school , and park uses as a function of EDU 's for acres planned (the <br />same method as used for determining utility undergrounding costs). EDU calculations <br />are presented in Table VIIl-1, and cost allocations are shown in Table VIIl-10. <br />This cost component is to be paid for each development project prior to final subdivision <br />map recordation. It is to be collected for a period of fifteen years following the date of <br />Specific Plan adoption by the City Council. Any property owner who has not filed a <br />final subdivision map within this 15-year period will not be obligated to pay the Fee . <br />Table Vill-10 <br />Specific Plan Preparation Fee Percentage Cost Breakdown <br />Total Equivalent <br />Funding Contributors Dwelling Units (EDU's) <br />Contributing Development from Inside <br />Specific Plan Area <br />• 189 new homes 189.0 <br />• Elementary school 19.0 <br />• Community park 31.7 <br />Total 239.7 EDU's <br />Specific Plan Preparation Fee cost per EDU is equal to 1 EDU <br />0 .0042 x total Specific Plan Preparation Fee cost. <br />Percent of <br />Specific Plan Fee <br />78.8 <br />8.0 <br />13.2 <br />100% <br />239.7 total EDU's, or <br />Example: Specific Plan Preparation Fee cost per lot calculation -Lot 1 contains no existing <br />homes and is planned for six new homes (Table IV-1); therefore, six homes, or <br />6.0 EDU's x 0 .0042 x total Specific Plan Preparation Fee cost = Specific Plan Preparation Fee <br />cost for Lot 1. The developer of Lot 1 must pay this amount at the time of final subdivision <br />map recordation for this lot, or the issuance of the first building permit for a habitable dwelling, <br />whichever comes first. This amount is required to be paid regardless of how many homes are <br />ultimately developed on Lot 1. <br />109